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Income taxes (Tables)

12 Months Ended

Sep. 30, 2021

Income taxes

Schedule of domestic and foreign components of pre-tax loss

The domestic and foreign components of pre-tax loss for the year ended September 30, 2021, 2020, and 2019 are as follows:

​	​	​	​	​	​	​
​	​	Year ended September 30,
(in thousands)	​	2021	​	2020	​	2019
US		(149,533)		(138,016)		(107,847)
Foreign		(4,495)		(1,533)		470
Total		(154,028)		(139,549)		(107,377)

Schedule of components of the provision for income taxes

​

The components of the provision for income taxes for the year ended September 30, 2021, 2020, and 2019 are as follows:

​	​	​	​	​	​	​
​	​	Year ended September 30,
(in thousands)		2021		2020		2019
Current
Federal		—		—		—
State		(29)		—		108
Foreign		108		382		184
Total Current		79		382		292
​	​	​	​	​	​	​
Deferred
Federal		(2,268)		—		—
State		259		—		—
Foreign		—		—		—
Total Deferred		(2,009)		—		—
​	​	​	​	​	​	​
Total Provision		(1,930)		382		292

Schedule of effective income tax rate reconciliation

The following is a reconciliation of the statutory federal income tax rate to the Company’s effective tax rate:

​	​	​	​	​	​	​	​
​	​	Year ended					​
​		September 30,					​
​		2021		2020		2019	​
Tax expense computed at the federal statutory rate		21	%	21	%	21	%
Change in valuation allowance		(33)	%	(25)	%	(22)	%
Research and development credit benefit		3	%	1	%	1	%
Business combination		(2)	%	—		—
Stock-based compensation		12	%	3	%	—	​
Total income tax expense		1	%	—	%	—	%

Schedule of deferred tax assets and liabilities

The significant components of the Company’s deferred tax assets and liabilities are as follows:

​	​	​	​	​	​	​
​		September 30,
(in thousands)		2021			2020
Net operating loss carryforwards	​	$	163,782	​	$	112,434
Research and development credit carryforwards	​		20,163	​		9,407
Operating lease liability	​		14,890	​		7,506
Other	​		11,631	​		5,639
Gross deferred tax assets	​		210,466	​		134,986
Less: Valuation allowance	​		(190,428)	​		(127,336)
Net deferred tax assets	​		20,038	​		7,650
Fixed assets	​		(785)	​		(105)
Operating lease right-of-use asset	​		(14,893)	​		(7,498)
Intangible assets	​		(4,360)	​		(47)
Gross deferred tax liabilities	​		(20,038)	​		(7,650)
Total net deferred tax asset	​	$	—	​	$	—

Schedule of Unrecognized Tax Benefits Roll Forward

The aggregate changes in the balance of gross unrecognized tax benefits are as follows:

​

​	​	​	​
​	​	Federal
(in thousands)		and state
Balance as of September 30, 2018	​	$	2,249
Increases related to tax positions taken during 2019	​		1,042
Balance as of September 30, 2019	​	$	3,291
Increases related to tax positions taken during 2020	​		1,409
Balance as of September 30, 2020	​	$	4,700
Increases related to tax positions taken during 2021	​		2,737
Balance as of September 30, 2021	​	$	7,437

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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Tabular disclosure of the change in unrecognized tax benefits.

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